Protasco has informed that its subsidiary Kumpulam Ikram had received and accepted an offer letter from Star Teenagers International Group Limited a company based in Hong Kong, proposing to purchase 20,000,000 ordinary shares held by KISB in Ikram Education Sdn Bhd, representing 100% of the total issued share capital of IESB.
IESB, is the owner of the education business, known as Infrastructure University Kuala Lumpur., the group said it had on 30 April 2024 accepted the letter of offer and received the earnest deposit from STI.
The group said upon the completion and satisfaction of STI’s due diligence exercise, the parties will finalize the terms and conditions of the Proposed Disposal through a Share Sale Agreement.
The purchase amount was not disclosed by the group.
